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H&T pretax profits up 42.6%

By BFN News | 07:26 AM | Monday 13 March, 2017


Pawnbroker H&T Group reported pre-tax profits of £9.7m for the year to the end of December - 42.6% up from last time. The group said personal loans grew with the net loan book increasing 123.8% from £4.2m to £9.4m while the gross pledge book increased 5.9% to £41.3m (2015: £39m). Chief executive John Nichols said: "The group has delivered a strong financial result in 2016 with a solid operational performance assisted by a higher gold price. "We are particularly pleased with the growth in our loan books and the increasing significance of FX and Buyback. "High street pawnbroking remains challenging and only those companies that can adapt to the new consumer and regulatory landscape will succeed. "We believe that H&T has a robust business model capable of delivering a range of products to our customers in a responsible way. "We have demonstrated our ability to develop new revenue streams and are well placed to succeed as the market continues to evolve." Story provided by StockMarketWire.com

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